The Global Smart Labels Market is Anticipated to Grow at a CAGR of 17.68% During 2020-2027

DALLAS, TX / ACCESSWIRE / February 20, 2021 / According to new report added in Report Banana offerings, there are significant money making opportunities available in the global smart labels market. Companies planning to enter this market need to prepare and differentiate to maximize their return on investment.

In terms of opportunities, the global smart labels market is expected to grow from $7.21 billion in 2019; it is expected to grow at a CAGR of 17.68% during the forecast period.

Smart Label is a flat configured transponder under a conventional print coded label which includes chip, antenna and bonding wires. A smart label is designed to implement advanced technology which leads to advantageous features such as automated reading, quick identification, re-programmability, high tolerance, and reduced errors. As a result, it is being preferred over conventional bar code systems in retail, FMCG, and logistics industries. These are mostly made from plastics, paper, and fibers. The market for smart labels is growing due to growth in industries such as retail, healthcare, manufacturing and others along with the rise in demand of automated labels such as RFID and EAS. A smart label is designed to receive, record, and transmit digital information which results in a significant reduction of total tracking time. Thus, rising industrial utilization aids to minimize human intervention and errors, owing to its accuracy and efficiency driving the market growth.

Prominent players profiled in this report include Honeywell International Inc., Avery Denison Corporation, CCL Industries Inc., Zebra Technologies Corporation, SATO Holdings Corporation, Checkpoint Systems Inc., Thin Film Electronics ASA, Muehlbauer Holding AG, Invengo Technology Pte. Ltd., Smartrac N.V, etc.

Significant Aspects of the Report and Main Highlights:

  • Changing business trends in the global smart labels market
  • Market segment analysis at different level such as labelling technology, printing technology, end-use, region
  • Historical and forecast size of the global smart labels market in terms of revenue
  • Major drivers and opportunities pertaining to the global smart labels market
  • Competitive landscape and player positioning analysis for the market
  • Key product offerings by major players and business strategies adopted
  • Key challenges faced by operating players in the market space
  • Analysis of major risks associated with the market operations

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

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